Dian Kuswandini, The Jakarta Post, Jakarta | Sat, 04/03/2010 10:14 AM | LifeSpending just a little time in Indonesia was enough to make British executive Richard think: “I’d love to live here someday.”

That was back in 1997 when he first travelled to the country as a student, and now, the 41-year-old man lives in South Jakarta, with his Indonesian wife and two children. “I like it here. My wife is an Indonesian and I have interesting work here,” said Richard, who requested his full name not be published. “Indonesia is my only home.” So as his only home, it is easy to understand why Richard followed his dream in purchasing a house in Indonesia – although the word “purchase” doesn’t really mean he fully owns his property.

“There are some conditions, and you must satisfy [them],” he said, referring to the current policy that allows a foreigner to own only one residential property for a certain period of time – not for forever. The policy, under the 1996 regulation on foreign ownership, only allows expatriates to hold a leasehold title (or hak pakai) for 25 years, with the possibility of extending it another 25 and a further 20 years. This regulation is based on the 1960 Basic Agrarian Law, which stipulates that foreigners can only hold the right to use a property for not more than 70 years.